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LONDON, Sept 22 (Reuters) - A former senior executive of Russian investment bank VTB Capital (part of banking group VTB ) has launched an emerging market fund dubbed Gemcorp, saying it had already raised $500 million from European institutional investors.
Atanas Bostandjiev, a former partner at Goldman Sachs , said London-headquartered Gemcorp would aim to invest in emerging market companies. The $500 million sum raised has a lock-up period of five years.
“We see a significant gap where traditional financial institutions are unable to meet the growing demand from emerging markets clients for flexible and reliable debt or equity financing solutions,” Bostandjiev said in a statement.
The firm employs 17 people. It will focus on financial services, natural resources, infrastructure and sovereign sectors. (Reporting by Freya Berry; Editing by Clare Hutchison and David Holmes)